An acronym that stands for PEACE LOVE FUCK IT. It means realizing its time to just "fuck it" who gives a shit anymore. You just aren't going to worry about the consequences until the shit hits the fan. It means that even tho you honestly don't know whether its a good or bad decision you're just so either fed up or excited you say "PLFI"

Example 1:
Broad #1: Where are we sleeping out after the party?
Broad #2: I have no idea lets just PLFI

Example 2:
Broad #1: He won't stop texting me!! Should I just go for it
Broad #2: Honestly PLFI, ass is ass.